MarineMax (NYSE:HZO) Upgraded to Hold at StockNews.com

MarineMax (NYSE:HZO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other brokerages have also weighed in on HZO. Benchmark assumed coverage on MarineMax in a report on Tuesday, October 15th. They issued a “buy” rating and a $40.00 price objective on the stock. Citigroup upgraded shares of MarineMax from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $44.00 in a report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $41.83.

MarineMax Stock Down 3.1 %

HZO stock opened at $27.77 on Thursday. The stock has a market capitalization of $627.46 million, a PE ratio of 16.83 and a beta of 1.87. MarineMax has a 52 week low of $22.51 and a 52 week high of $39.60. The company has a quick ratio of 0.34, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $30.56 and a 200 day moving average of $31.84.

MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, October 31st. The specialty retailer reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. The business had revenue of $563.10 million during the quarter, compared to the consensus estimate of $576.49 million. MarineMax had a net margin of 1.57% and a return on equity of 5.09%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 earnings per share. Sell-side analysts forecast that MarineMax will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HZO. Bank of New York Mellon Corp increased its holdings in shares of MarineMax by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 185,880 shares of the specialty retailer’s stock valued at $6,017,000 after purchasing an additional 3,867 shares in the last quarter. Victory Capital Management Inc. increased its holdings in MarineMax by 60.0% in the second quarter. Victory Capital Management Inc. now owns 55,243 shares of the specialty retailer’s stock valued at $1,788,000 after buying an additional 20,724 shares in the last quarter. Private Management Group Inc. raised its position in shares of MarineMax by 6.8% in the second quarter. Private Management Group Inc. now owns 478,990 shares of the specialty retailer’s stock worth $15,505,000 after acquiring an additional 30,677 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of MarineMax by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,444,769 shares of the specialty retailer’s stock worth $46,767,000 after acquiring an additional 110,601 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of MarineMax during the 2nd quarter valued at about $52,000. 92.85% of the stock is owned by institutional investors and hedge funds.

About MarineMax

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.